Azerbaijan exports to Russia much more energy than it receives

Oil&Gas Materials 28 September 2011 19:18

Azerbaijan, Baku, Sept. 28 / Trend , E.Ismayilov /
Russia's Trade Representative in Azerbaijan Yuri Shedrin stated that Azerbaijan supplied to Russia electricity in the amount of 342.9 million kilowatt-hours worth $21.8 million in seven months of 2011.
During this period, Russia delivered to Azerbaijan electricity in the amount of 2.5 million kilowatt-hours worth $0.2 million, he told journalists today.

An agreement on the parallel operation of power system of Azerbaijan and Russia is at the consultation stage, Shedrin said.

The sides are also in talks on the issue of pumping oil through the Baku-Novorossiysk

Baku hosted in early September a meeting of the working group on amendments to an agreement on the Azerbaijani oil transportation through Russia, dated Jan.18, 1996.
Shedrin said the working groups of each party agree on the volume of transportation, tariffs, as well as the quality of oil.
The bilateral Russian-Azerbaijani inter-governmental agreement on the transit of Azerbaijani oil via the Baku-Novorossiysk pipeline was signed in 1996. It provides for transportation of 5 million tons of oil a year at the rate of $15.67 per one ton of transited oil.
SOCAR transships its own oil, as well as oil of joint ventures and operating companies operating in Azerbaijan's onshore fields, through Novorossiysk.
Until late 2007, AIOC was the operator of Baku-Novorossiysk. The structure then transferred these functions to SOCAR.